Klima 2.0 Protocol Announcement
Klima 2.0 is live.
This release introduces a redesigned protocol architecture, focused around specific coordination problems that continue to exist within voluntary carbon markets: fragmentation, inconsistent standards, opaque execution, and limited transparency.
Klima 2.0 is designed as neutral, transparent, rules-based infrastructure for transacting spot carbon credits.
Core Architecture
Two-Token Model
Klima operates with two tokens:
kVCM — the primary unit of account within the protocol. It is used to transact with the protocol to supply carbon, retire it, and facilitate internal coordination.
K2 — a secondary utility token used to refine the protocol's execution parameters.
The separation allows protocol accounting, liquidity, and incentives to function independently while remaining economically linked.
Neutral Infrastructure
Klima 2.0 removes any discretionary control over day-to-day execution and operates without protocol-level fees:
- No opaque fee extraction.
- No privileged execution tiers.
- No hidden spreads.
Economic outcomes arise from predefined protocol rules and participant interaction.
Carbon Classes
Carbon credits are grouped using a dynamic standardisation framework called carbon classes.
Rather than treating all credits as homogeneous, carbon classes:
- Group credits by defined characteristics.
- Can evolve as methodologies and markets evolve.
- Are selected through economic governance signals.
This structure allows the protocol to adapt to changing market standards without hardcoding assumptions.
Governance as a Tangible Input
Governance is not symbolic.
By locking tokens and voting, participants dynamically change protocol parameters:
- The execution rates for carbon transactions with the protocol (i.e. carbon supply and retirement).
- The capacity that the protocol can transact carbon, without the execution terms materially changing.
Votes directly help the protocol respond to evolving carbon market dynamics.
Incentive Distribution
Incentives are issued according to predefined rules to participants who:
- Lock tokens.
- Provide liquidity on Aerodrome.finance.
Impact-First Design
Carbon assets are managed internally to the protocol, and can only be supplied or retired from the protocol itself. Carbon cannot be traded or otherwise extracted.
The protocol does not natively pair its native tokens against ETH or other volatile crypto assets.
External markets may price tokens however they choose, but the protocol itself is structured around providing utility to the carbon market.
Custody and Finality
Carbon supplied to the protocol is managed internally.
- Carbon credits can only leave the system through irreversible retirement.
- The protocol does not confer legal ownership claims over underlying credits.
- Participation grants interaction rights with protocol inventory under predefined rules.
Core User Activities
Carbon Suppliers
Suppliers may deposit eligible carbon credits into the protocol in exchange for kVCM at transparent execution rates.
Retirement Users
Participants may retire carbon credits directly from protocol inventory by burning $kVCM at real-time execution rates.
Retirement results in an irreversible consumption of a credit's underlying environmental benefit.
Liquidity Providers
$kVCM and $K2 trade on external decentralised exchanges. Users may provide liquidity in these markets.
Token Holders
Users may lock their tokens to influence protocol parameters.
Protocol Launch
kVCM and K2 have been available since October 2025 on Aerodrome.finance following completion of the Fair Launch process, which allowed legacy $KLIMA holders to migrate into $kVCM and $K2.
The fair launch app remains available here.
From 24th February 2026, the new tokens become usable within Klima's new infrastructure.
The codebase will be open-sourced.
KYC and Market Integrity
Klima 2.0 requires identity verification.
This decision reflects direct and consistent feedback from carbon market stakeholders since 2022.
For blockchain infrastructure to integrate with traditional carbon markets, safeguards must exist to:
- Mitigate AML risks.
- Prevent misuse of carbon credits.
- Protect registry integrity and adhere to their terms of use.
Klima integrates zk.me, a privacy-preserving verification system that enables compliance without exposing user identity data on-chain.
This structure is designed to establish clear operational boundaries while preserving user privacy, and whilst following through on our belief that auditable, transparent public blockchains can carry legitimate benefits for all markets, particularly ones that are beset with high transaction fees, and fragmented and expensive data.
Fair Launch Conclusion
Participants in the Fair Launch and legacy pKLIMA holders will receive $K2 allocations according to the schedule defined in the whitepaper.
The first unlock is scheduled for three months following infrastructure activation, provisionally May 2026.
Documentation
For detailed technical specifications, economic design and audit:
This post is for informational purposes only and does not constitute investment advice.